FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Double Bottom pattern has been formed on AUDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 99.41 is broken. The further movements will rely on the width of the current pattern 14 points.

The Double Top reversal pattern has been formed on AUDJPY M30. Characteristics: the upper boundary 99.49; the lower boundary 99.25; the width of the pattern is 23 points. Sell trades are better to be opened below the lower boundary 99.25 with a possible movements towards the 98.95 level.

The Double Top reversal pattern has been formed on AUDJPY M15. Characteristics: the upper boundary 99.49; the lower boundary 99.28; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 99.28 with a possible movements towards the 99.06 level.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 98.86/98.77 whereas the lower border goes across 98.70/98.77. The pattern width is measured on the chart at 16 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 98.77 is broken, the price could continue its move toward 98.92.

On the chart of the AUDJPY M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 98.17, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 40 points.